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Qudian: Class Action

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Qudian

Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Qudian (NYSE:QD) in connection to alleged violations of securities laws by QD. Fitapelli Kurta is interested in speaking to investors who have complaints regarding investments made in Qudian from October 15, 2017 to December 12, 2017.

The class action complaint specifically alleges that during the period in question, QD might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public in connection to its initial public offering on October 18, 2017, namely: that the company had loan collection practices that were inadequate or that didn’t exist at all, considering they considered bad loans to be welfare; and that the company had data systems and protocols that were not sufficiently prepared to protect borrower information against system breaches, which had taken place. The complaint alleges that when true facts emerged, investors suffered losses.

According to the Yahoo Finance, Qudian is a technology company that offers online small consumer credit to customers in China. It “uses big data-enabled technologies, such as artificial intelligence and machine learning to transform the consumer finance experience.” Founded in 2014, Qudian is headquartered in Beijing, China and trades on the New York Stock Exchange under the symbol QD.

A class action lawsuit has already been filed in connection with Qudian. If you wish to serve as lead plaintiff in the QD lawsuit, you must move the Court no later than February 12, 2018. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.

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